We needed a bond to protect the Citizens and our Town before Rhett and Lofty became mayors

I do not think our Public Officials nor Pam nor Stacy have such a bond.  Yet, per our charter, if These officials are found guilty of not exercising their faithful duty, they may have to pay anyway.  The purpose of a bond is to protect the Citizens but in the event of a violation, of which there have been many, the Surety pays the Citizens/Town and the officials must pay back the Surety:

 

 

PUBLIC OFFICIAL BONDS

 

Public official bonds guarantee the faithful performance of a public official and their subordinates, to uphold their duties in protecting public interests. The bond also covers any losses or shortage of funds or damage to the public property of the public official and their subordinates.  Because of the requirement of  a public official to faithfully perform his or her duties, a fidelity bond would not be the appropriate instrument by reason that the fidelity bond covers only loss of money, securities or property but does not cover faithful performance.

 

Those who require such bonds are those who handle public funds such as treasurers; administrators such as judges and commissioners; those with direct exposure to the public such as sheriffs.

Leave a Reply